CFTC Moves to Block Rhode Island from Regulating Federally Licensed Prediction Markets

TLDR: The CFTC filed a federal motion to stop Rhode Island from applying state gambling laws to registered prediction markets. Rhode Island’s attorney general demanded prediction market operators stand down and disgorge profits via a state court complaint. Chairman Selig confirmed the CFTC holds sole regulatory authority over event contracts under the Commodity Exchange Act. [...]

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